High demand has made it challenging for Ariel Corp. to acquire materials from its suppliers, President and CEO Karen Wright said on Tuesday.
Wright is a member of a panel that discussed the American Petroleum Institute’s annual State of American Energy report. More than 400 government, labor and industry leaders attended the event Tuesday in Washington, D.C.
“The shale revolution, by opening up vast new reserves of natural gas, has driven a renaissance in the manufacturing sector,” Wright said.
“During this past year, because our industry is in a boom, we’ve had a problem because virtually every foundry that we use is maxed out,” Wright said. “This hasn’t happened for a long time.
“Our business is in Ohio, in the heart of the Rust Belt, and yet every single supplier we have in the supply chain is maxed out at full capacity, begging for more workforce, and has more business than they can possibly manage,” she said. “I see that as a direct result of the shale revolution.”
Wright also discussed Ariel’s efforts to cultivate and train a workforce and the company’s dedication to environmental protection.